Video Management Software (VMS) Market 2024: Business Development Analysis

Video Management Software (VMS) Market size is anticipated to witness growth owing to factors such as an increase in security concerns and escalating demand for high-quality video processing. Increasing infiltration of video surveillance systems in developing countries is expected to fuel the VMS market growth.

VMS solutions are used as a unified tool for audio, digital video, data playback, and functionalities management. Such software is specifically designed for processing, storing, and managing signals for more than one camera feed. The growing popularity of video surveillance in applications including event video surveillance, facility protection, cross-border activities, and monitoring applications is anticipated to be one of the driving factors for the VMS market growth. Increasing demand for high-quality images is also estimated to provide several growth opportunities to the VMS market.

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Several VMS solutions are using mobile application solutions, which are anticipated to fuel the VMS market growth owing to the fast infiltration of tablets, smartphones, and smart devices by consumers and enterprises. Mobile apps are providing end users simple options to manage, view, and control the video monitoring system and allow remote access to recorded & live videos.

VMS market based on technology can be segmented into IP-based and analog-based VMS. IP-based VMS is currently trending and is anticipated to dominate the market over the forecast timeline. IP cameras offer a variety of features such as high image resolution, low price, and scalability. The growing implementation of IP cameras by enterprise customers and other end users is anticipated to be a major growth driver for the industry. In addition, the development of open platform VMS solutions along with IP cameras and onboard analytics is anticipated to provide more business intelligence to surveillance systems and is predicted to further give an impetus to VMS market growth.

The VMS market is increasingly witnessing trends such as deep learning for video analytics, built-in intelligence, and improvement in image quality. Privacy concerns regarding the adoption of video surveillance systems are anticipated to hinder growth to some extent. Additionally, requirements for large data storage systems and high cost for installations are anticipated to hamper VMS market growth. The organizations are focusing on establishing product life cycle and risk assessment programs to counter cyber security threats.

North America VMS market is expected to witness a steady growth over the forecast timeline, owing to growing video surveillance systems presence and growing adoption of high-end security networks. The consumers in the region are increasingly focusing on software platforms, which provide a user-friendly interface and powerful functions such as thumbnail search & calendar search, which are helping users find important videos faster and filter queries.

Asia Pacific VMS market is projected to become the fastest-growing market. The growth is attributed to developing commercial and domestic infrastructure and increasing government expenditure in the security sector. Increasing penetration of video surveillance in public places, such as retail stores and shopping malls, resulting from high infrastructure growth is anticipated to propel VMS market growth in this region. Growing focus on intelligent transportation systems and smart city projects, especially in emerging economies, such as India and China, is anticipated to splurge the demand.

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Vendors are increasingly focusing on technological innovations and investing in R&D to come up with newer product versions. They are also implementing certain standards in product development, which will prove useful for VMS market growth over the forecast timeline. For instance, the implementation of video IP standards, such as PSIA and ONVIF, will allow VMS developers to focus their resources on developing new VMS functionalities rather than focusing the programming time on camera drivers. The implementation of these standards will also encourage other manufacturers to implement these specifications to gain support from the suppliers, which is expected to propel the VMS market growth.
Key participants in the VMS market include Milestone Systems, AxxonSoft, Schneider Electric Industries, MindTree, Exacq Technologies, March Networks, On-Net Surveillance Systems, Verint Systems, Qognify, Bosch Security Systems, Tyco Security, Aimetis Corporation, 3VR, Salient Systems, Genetec, Hanwha Techwin, Cathexis, Surveon Technology, OnSSI, Genetec, Honeywell International, Exacq Technologies, Axis, A&H Software, Cisco Systems, Inc., KEDACOM, and IProNet.

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